412 Church St

Hawley, PA 18428

$359,000D+

6 bd · 3.5 ba · 3,526 sqft · Built 1910 · SingleFamily · Active · 76 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,755/mo
• Mortgage (P&I): −$1,883
• Tax + insurance: −$598
• HOA: −$0
• Vac / Maint / Mgmt: −$579
• Net cashflow: $-304/mo
• Annual: $-3,651/yr
• Cap rate: 5.28%
• Cash-on-cash: -3.63%
• DSCR: 0.84
• 1% rule: 0.77%
• Cash to close: $100,520

Investor read

• This is a 6-bed/3.5-bath single-family listed at $359k.
• At list price, monthly cash flow is $-304 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $315k (12.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $276k (23.3% below list).
• It's been on market 76 days — a 6% lower offer ($337k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $276k (23.3% below list) — sets the bar for 1% rule.
• In year one you build about $38k of equity ($2k loan paydown + $36k appreciation (10.0% local appreciation)).
• Location reads 68/100 on livability (#898 in PA) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: schools C-, amenities F, commute F.
• Wallenpaupack Area SD (rural): math 39% / reading 59% proficiency, ranked #192 of 539 in PA (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 371 active listings in the ZIP; 177 units permitted in Wayne County in 2024 (0 in 5+ unit buildings).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 2, paydown + projected appreciation supports a ~$62k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 5.3% vs local median 4.0% in Hawley — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 76 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
• Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.